The global uncertainty weighs on the mood of bank customers across Europe.
(Photo: imago images/Geisser)
Zurich The crisis-plagued Credit Suisse is changing its CEO after another loss of billions. Thomas Gottstein will be succeeded by Ulrich Körner on August 1, as the major Swiss bank announced on Wednesday. At the same time, Credit Suisse announced the third quarterly loss in a row.
The slump in earnings in parts of the operating business and higher provisions for legal disputes resulted in a net loss of CHF 1.6 billion from April to June 2022. According to a survey conducted by the institute itself, analysts had expected an average loss of CHF 206 million. A year ago, a profit of CHF 253 million had been posted.
Credit Suisse is now launching a new savings program. This should bring costs down to below CHF 15.5 billion in the medium term. For the current year, the money house recently assumed around 17 billion francs. The securities trading business is to be further reduced.
More: UBS feels the downturn
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